Pacific Commerce Bank of Los Angeles and Vibra Bank of Chula Vista announced Tuesday that their shareholders, in separate meetings, have approved the proposed merger originally announced on Oct. 30, 2014.
Following Monday’s shareholder meetings, the merger is expected to close early in the second quarter of 2015, according to a joint statement. The combined entity will have approximately $350 million in assets and operate four branches in Los Angeles and San Diego counties.
—City News Service